Cayman Islands: Cayman Finance Welcomes ESMA Agreement
Last Updated: 11 June 2013

31 May 2013 ï,· (George Town, Grand Cayman) Cayman Finance welcomes news CIMA will sign an MOU with the European Securities and Markets Authority as part of Cayman's preparations for the EU Alternative Investment Fund Managers Directive.

The Directive, which is set to be implemented in Europe on July of this year, will impose certain conditions, which limit the marketing of alternative investment funds in the EU.

"The AIFMD, if not addressed, would pose some challenges for the marketing of Cayman Islands hedge funds in Europe, and we are very happy this step will be taken by CIMA to address concerns and enable the jurisdiction to continue to thrive as a leading funds domicile", said Mr. Gonzalo Jalles, CEO of Cayman Finance.

Mr. Jalles explained the Cayman Islands continues to reach new markets, and maintaining the jurisdiction's links in Europe is key to the success of various Cayman Islands financial services providers and the wider economy.

"I see this signing as a proactive move and commend CIMA and the other stakeholders who have been working on it", added Mr. Jalles.

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